11/05/2023
Not a bad show today for the last big show of the year. Despite the fact we discounted heavily on a lot of stuff to get it moved because it's not going to sell on the shelf over the winter, we a fairly high average sale. And despite the economy, people pulled out their wallets. A lot of cash also as people are backing off credit card because of interest rates.
Want to know how the economy is doing, just ask the small business owner and we can break it down for you. You don't need a degree or three in finance to tell you what the economy is doing. What we paid for the spot; we can write it off as a donation to the Christian Life Center. We still had to pay for gas, lunch, another donation for the raffle (which we are happy to do, and we can also write it off), and our time. The cost of lumber, mineral oil, handles that we put on our boards, non-skid feet that we put on some of our boards, bowls and other glassware, and wear and tear on the machines, and disposables like sandpaper have all gone up.
However, we are a tipping point with our boards price point wise. With 13 years of backup data on the financial side we have a pretty good idea what we can charge that people will pay. We can't afford to raise the price on our product much more before people will not pay for it.
And if you don't believe me, our retailers have told us the same thing, that they cannot afford to push the cost of the boards any higher. When we are taking a 30% cut to sell on consignment or taking advantage of our wholesale pricing for bulk purchases, we're about 30% of the cost right off the bat.
Tom and I have spent a lot of time rethinking our business model for the future. Neither one of us are getting any younger and medical issues keep popping up just one we don't want them. We've made a decision that next year we're going to do a limited number of shows in venues where we can park at our spot for the duration of the show. In the meantime, we're going to increase our retailer sales and online presence with an updated website and possibly an Etsy presence. Yes, we have to pay commission or provide a wholesale price and take a hit right off the bat but we're not paying for gas and all the other things we have to pay to actually do a show. Plus, it's easier on our bodies.
We are not going away, by any means, just being realistic about what we can handle physically and financially to develop a different business model. Christmas is coming people we're still here if you need something.
Peace, Tom and Tim.
